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20130124
20130201
Search Results 0 to 2 of about 3 (some duplicates have been removed)
, both parties agreed to -- at that point to transition over to a sales tax based methodology. and one of the issues there was that the sales tax methodology was easier to do because we could not count ridership. we didn't have any way of tracking that ridership electronically. and, so, so, over time that number has fluctuated based upon sales tax revenues and how the sales tax revenues have fluctuated. so, for example, in fiscal year 2009 to 2011, the payment under this current form would be increased by 18% because of the fact that the economy had affected sale tax received that weren't received. we recognize the $15 million versus the contract value of approximately $2.6 million is quite a substantial difference. during negotiations we discussed this issue and we were very pragmatic about this. we did not feel that it would be feasible to transition to an amount like $15 million overnight. so, that's the feeder agreement. in term of -- those are the historical developments of both agreements. and now i'd like to walk you through the proposed amendments to the agreement. so, for the
, the metropolitan transportation commission changed the formula to be linked to sales tax. which is somewhat reflective of the economy and the level of rider ship and the health of the bay area as the economy does better sales tax goes up, ridership goes up. and as it goes down, so does ridership follows along accordingly. so sales tax was a proxy i would summarize from what mta changed, how they changed it back in the 1989. but going forward, bart has just -- we viewed this as a contribution that we're willing to make and we have done that. so, we're willing to continue to make the contribution. >> okay. seeing no other questions, thank you very much. like to open up to public comment if there are any members of the public that wish to comment on items 7 and 8, please step forward. mr. paulson. >>>♪ looks like a lovely feeder bart feeder money made. you're going to take my money away when you come and take the money away standing by a feeder meter and you're going to get a glimpse of a money reader and you take my money away and how am i supposed to, if i don't have the money, give back g
Search Results 0 to 2 of about 3 (some duplicates have been removed)